PharmAthene, Inc. [PIP] expects to receive up to $1.6 million from the Pentagon for continued development of its Anthrax therapeutic Valortim after Congress included the funds in the FY '08 Defense Appropriations Act. Preclinical studies of Valortim have shown that the drug could be used as a prophylactic-post exposure but prior to the emergence of symptoms-and as a therapeutic-once symptoms become evident. Total government spending on Valortim the last four fiscal years, excluding the FY '08 appropriations, is $23 million.
PharmAthene Expects up to $1.6M for Anthrax Therapeutic
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